Negotiating a higher salary can be a daunting prospect for many individuals, but it’s a crucial skill that can significantly impact one’s financial well-being and career trajectory. In this guide, we delve into the secrets of successful salary negotiation, offering insights and strategies to help individuals advocate for fair compensation and secure the salary they deserve.
1. Professional Development
If your boss doesn’t see your methods or skill set develop over the years, they are unlikely to justify paying you more. “I’ve gotten a raise probably seventy percent of the times I have asked for them,” someone boasts. “But I’m constantly expanding my skill set and networking.”
2. Show No Fear
“I had a bullet point list of stuff I’m doing for them that’s outside my job description/beyond it,” advises the first thread creator. “If you give even a flinch of doubt or non-confidence, you’ll lose immediately.” Knowing what you want, having a plan for getting it, then sticking to the plan can never hurt.
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3. Bluff
One idea is to research all the competitors in your career sector, then find out which ones pay more for your position. Telling your employer you have had a better offer from elsewhere could be enough to tempt a raise, though some bosses will see it as a ruse. However, getting another offer for real gives you great leverage and security if your employer refuses to reward you.
4. Work the Rumor Mill
“I floated a rumor I was leaving years ago,” reflects a wily contributor. Nothing works better than fake news to drum up emotional blackmail. The commenter also claims he has been “promoted a total of six times and given seven raises.” Impressive guy.
5. Play the Long Game
“I spent a couple of years at company A, learning the job (then) a couple (of) years at company B, picking up higher level skills,” claims the next commenter. “Now I’ve been at company C for four years because they recognize and appreciate my skills.” You can set yourself up for better pay by consistently finding new skills.
6. Look Before You Leap
One professional suggests that applying for other jobs while still employed means you can test the salary waters with no pressure and more leverage. “If they don’t want to hire you, you still have a job,” he explains. “Fairly easy negotiating position where they don’t have all the cards.”
7. The Five-Year Rule
“I once had a director tell me that if he saw a resume and someone had been in a position for longer than five years, it showed a lack of ambition,” warns an ex-corporate professional with wise insight, “and he would toss it out.”
8. Finger on the Switch
Many employees fear asking for a raise will antagonize their working relationship, but you hold no cards in the game if you are unwilling to resign. “You have to be willing to leave if they refuse — that is the leverage you hold,” says the next user. “If you’re asking for a raise and they say ‘No,’ start filing applications.”
9. A Rolling Stone Gathers No Moss
Just like with new customers, companies realize that attracting talent requires offering perks and benefits. “In my experience, companies rarely give you a raise,” warns the next professional. “The best way to increase your salary considerably is to change companies, typically every two years.”
10. Read All the Signs
“Your current employer has already demonstrated that they don’t care enough about keeping you to give you the money,” says a fellow corporate worker who feels companies should never feel coerced if they see your true value. “They had to be threatened into it.”
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